Canadian Sub-Agent Sample Clauses
The Canadian Sub-Agent clause defines the conditions under which a party may appoint a sub-agent in Canada to act on its behalf. Typically, this clause outlines the scope of authority granted to the sub-agent, any required qualifications or approvals, and the responsibilities of the original agent regarding the sub-agent’s actions. By specifying these terms, the clause ensures that both parties understand how representation in Canada will be managed and helps allocate liability and clarify the chain of authority for activities conducted within the country.
Canadian Sub-Agent. The Canadian Sub-Agent is not a non-resident of Canada for purposes of Part XIII of the Canadian ITA and, as such, it and not the Administrative Agent has been designated under this Agreement to carry out certain duties of the Administrative Agent in respect of TCCI. The Canadian Sub-Agent shall be subject to each of the obligations in this Agreement to be performed by the Administrative Agent, and each of TCCI and the Tranche B Lenders agrees that the Canadian Sub-Agent shall be entitled to exercise each of the rights and shall be entitled to each of the benefits of the Administrative Agent under this Agreement as relate to the performance of its obligations hereunder. References in Sections 2.15 and 3.1 and in the definition of “Taxes” in Section 1.1 to the Administrative Agent shall also include the Canadian Sub-Agent.
Canadian Sub-Agent. The Administrative Agent may appoint a sub-agent to perform the duties and responsibilities of the Administrative Agent with respect to Canadian Advances. Any such sub-agent so appointed shall be entitled to all of the benefits and immunities of the Administrative Agent under this Agreement, including those granted under this Article VII, in its capacity as such. The Administrative Agent hereby appoints The Chase Manhattan Bank of Canada as the initial sub-agent of the Administrative Agent pursuant to this Section.